financial disclosure

Form E is the detailed disclosure form used by divorcing couples applying to the court for a financial order. The online version of Form E should accurately calculate the parties’ assets and liabilities, and provide other relevant information. However, according to a BBC report, there was a fault in the version downloadable from April 2014 until recently, meaning the online calculations were likely to be inaccurate. A Gov.uk statement confirms that the problem has now been sorted out, but gives a contact email address for those potentially affected.

Mediators use a paper equivalent of Form E, and will go through the figures with the couple in considerable detail, often on a flip chart. Many mediators also provide both clients with a draft Open Financial Summary once their disclosure is complete. This sets out all the figures for consideration and confirmation before any proposed settlement is reached, the Memorandum of Understanding prepared by the mediator, and the clients apply to the Court for a consent financial order. It also gives them time to go through everything themselves between sessions, and the opportunity to take independent legal advice, which is always recommended alongside the mediation process.